THE PGE FOR 2013 SEEMS AN EXERCISE FOR TO GET TIME UNTIL THEY RESCUE US OR TOSS US

The Government's vice-president, Soraya Sáenz of Santamaría, accompanied by the dynamic duet, it has assured that these Budgets are more expense adjustment than of revenues" (concretely, an adjustment of 58% for the road of the expense and of 42% for the road of the revenues). Here it is already the first intent of making go “churras by merinas”, a contention in revenues of 42% is bigger I depreciate that a reduction of 58% of expenses. And therefore it is not anything for that that to boast rather on the contrary. 

They have defended that the Government continues betting for the social expense that will represent 63,6% of the total expense. The only departures that increase are: pension, scholarships and the interests of the debt that make that the expense of the State goes up 5,6%. One of the novelties of these bills is that the Government has approved to prepare, for the first time, of 3.063 millions of Eurus of the bottom of reservation of the Social security, the denominated  save for of the pensions, to complete "a series of treasury" necessities, another bad news that they try to pass for inadvertent. 

On the other hand, the minister of Treasury, Cristóbal Montoro, it has assured that the macroeconomic square with which the PGE is elaborated has not varied regarding the last one presented with the expense roof. This way, the official forecast continues being that the GDP will contract 0,5% in 2013. A figure totally unreal maxi me if it is compared with other analysis data that calculate fall from the 2 to 3%, Montoro he has said that the Government "makes political to not improve those forecasts" Mister Montoro to fix that it is not necessary to make political it is necessary to request the rescue and to make numbers many numbers. 

Montoro has explained that the expenses of the State grow 5,6% in 2013, mainly for the interests of the debt that will almost suppose 10.000 million more Eurus in next year (almost 38.000 million Eurus). undoubtedly it was not to review the whole PGE in yesterday's conference but in this point I am not able to for less than to underline that there is a cost that you/they always hide that it is the unemployment which also cost in 2013 about 50.000 millions about 10.000 millions more.   

The forecasts of tributary revenues for this year will complete amply it has pointed very optimistic the man, For 2013, prevue an increment of the non financial revenues of 4% has more than enough budget, and of 2,6% it has more than enough budgetary execution The Government he/she hopes to collect 4.375 million Eurus with the application of new tributary measures included in the General Budgets of 2013. The biggest impact to collect will come in the Tax of Societies for the elimination of the deduction for paying-off to the big companies, what will contribute 2.371 millions. What doesn't explain is how many companies they closed in the face of the effective helps that they receive year after year on the part of the government? 

Also, a new tax is believed on the prizes of lotteries that it will be of 20% and it will affect to 40% of the prizes (those that overcome the 2.500 Eurus), and that it will contribute 824 million to the arks of the State. The extension in 2013 of the Tax on the Patrimony will suppose 700 million Eurus. To this they will unite the 90 millions that it will contribute the elimination of the deduction for purchase of habitual housing that he had already announced in July the Executive. Also, the Government has decided to recover a special obligation of 5% for the upgrade of balances of the companies that will contribute 300 million and to modify the régime of tribute of the appreciations in the first year that they will be burdened in function of the marginal type of the IRPF (90 millions). In total 2004 million well come but like one says in cheap economy this is the chocolate of the parrot. With these figures, Montoro is not able to like he has made assure that it will be completed "yes or yes" the deficit objective in 2013 that is of 4,5% of the GDP. 

Undoubtedly all this will go accompanied by the reformations that the minister of Economy, Luis De Guindos, he has explained, there will be actions to connect the formation with the labor market and a revision of the active politicians. The executive will create an independent fiscal authority to control the expense of all the Spanish public administrations it will also have an adjustment plan in the expense of the Public Administrations and in the public companies. If I interpret these measures well to my  find alone of control not of reactivation that is what should be planning De Guindos. 

In short we give to these data the importance of a press wheel where one can say everything and to falsify everything to get regular that like we see today they make to fall boisterously again to the IBEX and to go up the interests of the debt, this way Mrs. Montoro and De Guindos they won't square neither their own lies that already that is to say.